Nov. 1, 1855
Proof PMG Choice Uncirculated 64
Merchants Bank was formed as a Free bank in 1856 and remained in business until sometime around 1863. The main focal point of the design is a busy harbor scene with the steamer Pacific at left. The note is printed on India paper with a large red ONE protector mounted on cardstock with the usual POCs in the signature lines. This note came from a single $1-$1-$1-$5 uncut sheet (Lot 1907) in the 1990 ABNCo Archives sale. These three $1s are very likely to represent the total surviving population of $1 proofs of this design.